Wolverine Worldwide reorganises brand portfolio, appoints segment heads
As of the fourth quarter of fiscal 2022, Wolverine Worldwide has reorganised its portfolio of brands into three reportable segments: Active, Work Group and Lifestyle Group.
In connection with reorganising the brand group structure, the company also announced promotions and leadership appointments for three company veterans: Chris Hufnagel, Tom Kennedy and Katherine Cousins.
“The new group reporting structure announced today is a natural progression of our business as it combines brands that share similar traits under one segment, which we expect will pave the way for increased collaboration, sharing of best practices, and ultimately value creation for our shareholders,” said Brendan Hoffman, Wolverine Worldwide’s president and CEO in a statement.
Wolverine Worldwide reorganises brands under three segments
The company said that Active Group will consist of Merrell footwear and apparel, Saucony footwear and apparel, Sweaty Betty activewear and Chaco footwear; Work Group will include Wolverine footwear and apparel, Cat footwear, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear; and Lifestyle Group consists of Sperry footwear, Keds footwear, and Hush Puppies footwear and apparel.
The company added that kids footwear results from Saucony, Sperry, Keds, Merrell, Hush Puppies, and Cat will be reported within the applicable brand.
Wolverine Worldwide names heads for the newly created brand segments
Wolverine Worldwide has appointed Chris Hufnagel as president of the Active Group. The Saucony and Chaco brands will now report to Hufnagel, who will also continue leading the Merrell brand, while The Sweaty Betty brand will continue reporting to Hoffman.
Hufnagel, the company said, is a 14-year veteran and has held several key leadership roles including global president of Merrell since September 2019, global president of Cat Footwear, and corporate senior vice president and head of strategy. Prior to joining Wolverine Worldwide, Hufnagel held senior leadership roles at Under Armour, Gap, and Abercrombie & Fitch.
Tom Kennedy has been appointed as president of the Work Group, and the Wolverine, CAT Footwear, Bates, Harley-Davidson Footwear, and Hytest brands will continue reporting to him. Kennedy is a seven-year veteran of the company and has held several key leadership roles, including global president of Sperry and president of apparel and accessories. Prior to joining Wolverine Worldwide, Kennedy held senior leadership positions at Nike, Gap, Fossil, and PacSun.
The company further said that Katherine Cousins has been appointed as president of the Lifestyle Group. The Hush Puppies brand will now report to Cousins, who joined the company as president of Sperry in 2021 and has also overseen Keds since the beginning of 2022. Prior to joining Wolverine Worldwide, Cousins served as VP and General Manager of the Kodiak, Terra, and Work Authority brands at VF Corporation, and led global strategy, consumer research, licensing, and accessories for Timberland.
“Chris, Tom, and Katherine are each uniquely qualified for their new leadership appointments and bring significant breadth and depth of experience in leading global brands that deliver consistent and profitable growth. I am confident that their successful track records and leadership skills will elevate and enhance the portfolio of brands that they will each lead,” added Hoffman.